Newly-Listed Psoriasis Alumis Attracts Analysts' Attention With Promising Lead Program And Modest Valuation
Newly-Listed Psoriasis Alumis Attracts Analysts' Attention With Promising Lead Program And Modest Valuation
The analyst writes that favorable safety (with no risk of JAK class black box warning) and potential BIC efficacy make ESK-001 a potentially competitive alternative to available oral therapies in moderate, severe plaque psoriasis, where according to Guggenheim's KOLs, there is a large unmet need for more effective orals that require no lab monitoring.Guggenheim Partners initiated coverage on Alumis Inc. (NASDAQ:ALMS), a clinical-stage biopharmaceutical company developing oral therapies for immune-mediated diseases.
古根海姆合夥公司開始對Alumis公司（NASDAQ：ALMS）進行覆蓋，該公司是一家臨床階段的生物製藥公司，正在開發口服治療免疫介導疾病的療法。
The investment thesis centers around a positive view of its lead asset ESK-001, a next-gen TYK2 inhibitor currently in development for plaque psoriasis and systemic lupus erythematosus (SLE).
投資論點的中心在於對其領先資產ESk-001的積極看法，這是一種下一代TYK2抑制劑，目前正在開發用於銀屑病和系統性紅斑狼瘡（SLE）。
The company's management expects to initiate a Phase 3 trial for plaque psoriasis in the second half of 2024, and data from the SLE study are expected in 2026.
該公司管理層預計在2024年下半年啓動銀屑病的三期試驗，並預計在2026年公佈SLE研究的數據。
The analyst writes that favorable safety (with no risk of JAK class black box warning) and potential BIC efficacy make ESK-001 a potentially competitive alternative to available oral therapies in moderate, severe plaque psoriasis, where according to Guggenheim's KOLs, there is a large unmet need for more effective orals that require no lab monitoring.
分析師指出，有利的安全性（無JAk類黑盒子警告的風險）和潛在的BIC療效使得ESk-001成爲一種潛在的競爭性替代品，針對中度、重度銀屑病的口服治療，根據古根海姆（Guggenheim）的KOL，這是需要無需實驗室監測的更有效的口服治療藥物的一個大的未滿足需求。
Among orals in development, Takeda Pharmaceutical Company Limited's (NYSE:TAK) TAK-279, Bristol-Myers Squibb & Co's (NYSE:BMY) BMS-322, and Johnson & Johnson's (NYSE:JNJ) JNJ-2113 are ESK-001's direct competitors in advanced clinical stage.
在正在開發的口服治療藥物中，武田製藥有限公司（NYSE:TAK）的TAk-279、締造（Bristol-Myers Squibb &Co）的BMS-322和強生（Johnson & Johnson）的JNJ-2113是ESK-001在先進臨床階段的直接競爭對手。
The Guggenheim analyst initiates with a Buy rating, with a price target of $32.
古根海姆分析師給出買入評級，並設定32美元的價格目標。
Cantor Fitzgerald also initiated coverage of Alumis with an Overweight rating. It writes that the company's ESK-001 and brain-penetrant TYK2 inhibitor A-005 (in Phase 1) have over $1 billion in commercial potential in relation to Alumis' modest valuation, with an enterprise value of around $200 million.
坎特菲茨傑拉爾德（Cantor Fitzgerald）也開始對Alumis進行覆蓋，並給出超額評級。它寫道，與Alumis的適度估值相比，該公司的ESk-001和穿過血腦屏障的TYK2抑制劑A-005（處於1期）具有超過10億美元的商業潛力，企業價值約爲2億美元。坎特期望這些候選藥物隨着時間的推移而實現大幅跑贏市場。
Cantor expects shares to substantially outperform the market as these candidates advance.
坎特期望這些候選藥物隨着時間的推移而實現大幅跑贏市場。
Just a month ago, Alumis priced its initial public offering at $16.00 per share and a concurrent private placement, raising $250 million in gross proceeds.
僅在一個月前，Alumis的IPO定價爲每股16.00美元，同時進行了定向增發，募集了2.5億美元的總收益。
The analyst notes that despite initial frustrations, Alumis' market debut is now in the past. The company has the necessary resources to progress its pipeline and the chance to reshape its story moving forward.
分析師指出，儘管最初存在一些挫折，但Alumis的市場首次公開募股已經過去。該公司擁有推進其產品管道的必要資源，並有機會塑造未來的發展故事。
"Meanwhile, Alumis' share price provides what we think is a very attractive entry point for investors willing to take a fresh look," the Cantor analyst writes.
坎特分析師寫道：“與此同時，Alumis的股價爲投資者提供了一個非常有吸引力的入場點。”
Price Action: ALMS stock is up 0.48% at $12.66 at last check Wednesday.
股價行動：ALMS股票在上週三最後一次檢查時上漲0.48％，報12.66美元。
Photo via Shutterstock
圖片來自shutterstock。
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